<div class="edu-card" data-widget-id="1" data-cy="edu-card"> <div class="edu-card-banner" data-cy="edu-card-banner"> Advertisement </div> <div class="edu-card-container" data-cy="edu-card-container"> <div class="edu-card-content" data-cy="edu-card-content"> <div class="edu-card-title" data-cy="edu-card-title"> <h1 class="edu-card-title-heading" data-cy="edu-card-title-heading"> UNC Kenan-Flagler’s top-ranked online MBA </h1> <p class="edu-card-title-subheading" data-cy="edu-card-title-subheading"> STEM-designated. Tar Heel ROI. No compromises. </p> </div> <div class="edu-card-content-description" data-cy="edu-card-content-description"> <div class="edu-card-content-description-content"> <p>UNC Kenan-Flagler’s top-ranked online MBA is designed for experienced professionals looking to take their career to the next level. Students have access to lifelong career benefits and a global network of 51,000+ business school alumni. Earn your MBA online in as few as 18 months or up to three years. MBA Fellowships Available.</p> </div> <span class="edu-card-content-description-readmore"> <input type="checkbox" id="edu-card-content-description-readmore-input-1" class="edu-card-content-description-readmore-input" /> <label for="edu-card-content-description-readmore-input-1" class="edu-card-content-description-readmore-label"> <span class="edu-card-content-description-readmore-label-arrow"></span> </label> </span> </div> <a class="edu-card-content-button" target="_blank" href="https://onlinemba.unc.edu/requestinfo/index/">Learn More</a> <span class="edu-card-content-caption"> </span> </div> <div class="edu-card-action" data-cy="edu-card-action"> <picture class="edu-card-picture" data-cy="edu-card-picture"> <img src="https://fortune.com/img-assets/wp-content/uploads/2024/07/UNC2UadCURRENT.png?w=250&amp;h=165" class="" alt=""> <span class="edu-card-picture-label"> </span> </picture> <div class="edu-card-action-cta" data-cy="edu-card-action-cta"> <a class="edu-card-action-button" target="_blank" href="https://onlinemba.unc.edu/requestinfo/index/">Learn More</a> <span class="edu-card-action-caption"> </span> </div> </div> </div></div><script> function checkWidgets() { document.querySelectorAll('.edu-card-content-description-content').forEach((content) => { const readMoreBtn = content.nextElementSibling; if (!readMoreBtn) { return; } if (content && content.clientHeight === content.scrollHeight) { readMoreBtn.style.display = 'none'; } else { delete readMoreBtn.style.removeProperty('display'); } }) } window.removeEventListener('resize', checkWidgets); window.addEventListener('resize', checkWidgets); checkWidgets();</script>

<div class="edu-card" data-widget-id="71" data-cy="edu-card"> <div class="edu-card-banner" data-cy="edu-card-banner"> Advertisement </div> <div class="edu-card-container" data-cy="edu-card-container"> <div class="edu-card-content" data-cy="edu-card-content"> <div class="edu-card-title" data-cy="edu-card-title"> <h1 class="edu-card-title-heading" data-cy="edu-card-title-heading"> The Online MBA From Rice Business </h1> <p class="edu-card-title-subheading" data-cy="edu-card-title-subheading"> Rethink Your Approach to Business </p> </div> <div class="edu-card-content-description" data-cy="edu-card-content-description"> <div class="edu-card-content-description-content"> <p>GMAT waivers are available for the online MBA from Rice Business, ranked a Top-20 Online MBA by U.S. News & World Report. Ranked #1 in graduate entrepreneurship in the U.S. by the Princeton Review for 2024, aspiring entrepreneurs can earn their MBA in as few as 24 months.</p> </div> <span class="edu-card-content-description-readmore"> <input type="checkbox" id="edu-card-content-description-readmore-input-71" class="edu-card-content-description-readmore-input" /> <label for="edu-card-content-description-readmore-input-71" class="edu-card-content-description-readmore-label"> <span class="edu-card-content-description-readmore-label-arrow"></span> </label> </span> </div> <a class="edu-card-content-button" target="_blank" href="https://onlinebusiness.rice.edu/requestinfo/index/">Learn More</a> <span class="edu-card-content-caption"> </span> </div> <div class="edu-card-action" data-cy="edu-card-action"> <picture class="edu-card-picture" data-cy="edu-card-picture"> <img src="https://fortune.com/img-assets/wp-content/uploads/2024/07/Rice2UadCURRENT.png?w=250&amp;h=165" class="" alt=""> <span class="edu-card-picture-label"> </span> </picture> <div class="edu-card-action-cta" data-cy="edu-card-action-cta"> <a class="edu-card-action-button" target="_blank" href="https://onlinebusiness.rice.edu/requestinfo/index/">Learn More</a> <span class="edu-card-action-caption"> </span> </div> </div> </div></div><script> function checkWidgets() { document.querySelectorAll('.edu-card-content-description-content').forEach((content) => { const readMoreBtn = content.nextElementSibling; if (!readMoreBtn) { return; } if (content && content.clientHeight === content.scrollHeight) { readMoreBtn.style.display = 'none'; } else { delete readMoreBtn.style.removeProperty('display'); } }) } window.removeEventListener('resize', checkWidgets); window.addEventListener('resize', checkWidgets); checkWidgets();</script>

<div class="edu-card" data-widget-id="2" data-cy="edu-card"> <div class="edu-card-banner" data-cy="edu-card-banner"> Advertisement </div> <div class="edu-card-container" data-cy="edu-card-container"> <div class="edu-card-content" data-cy="edu-card-content"> <div class="edu-card-title" data-cy="edu-card-title"> <h1 class="edu-card-title-heading" data-cy="edu-card-title-heading"> UNC Kenan-Flagler’s top-ranked online MBA </h1> <p class="edu-card-title-subheading" data-cy="edu-card-title-subheading"> STEM-designated. Tar Heel ROI. No compromises. </p> </div> <div class="edu-card-content-description" data-cy="edu-card-content-description"> <div class="edu-card-content-description-content"> <p>UNC Kenan-Flagler’s top-ranked online MBA is designed for experienced professionals looking to take their career to the next level. Students have access to lifelong career benefits and a global network of 51,000+ business school alumni. Earn your MBA online in as few as 18 months or up to three years. MBA Fellowships Available.</p> </div> <span class="edu-card-content-description-readmore"> <input type="checkbox" id="edu-card-content-description-readmore-input-2" class="edu-card-content-description-readmore-input" /> <label for="edu-card-content-description-readmore-input-2" class="edu-card-content-description-readmore-label"> <span class="edu-card-content-description-readmore-label-arrow"></span> </label> </span> </div> <a class="edu-card-content-button" target="_blank" href="https://onlinemba.unc.edu/requestinfo/index/">Visit Website</a> <span class="edu-card-content-caption"> </span> </div> <div class="edu-card-action" data-cy="edu-card-action"> <picture class="edu-card-picture" data-cy="edu-card-picture"> <img src="https://fortune.com/img-assets/wp-content/uploads/2024/07/UNC2UadCURRENT.png?w=250&amp;h=165" class="" alt=""> <span class="edu-card-picture-label"> </span> </picture> <div class="edu-card-action-cta" data-cy="edu-card-action-cta"> <a class="edu-card-action-button" target="_blank" href="https://onlinemba.unc.edu/requestinfo/index/">Visit Website</a> <span class="edu-card-action-caption"> </span> </div> </div> </div></div><script> function checkWidgets() { document.querySelectorAll('.edu-card-content-description-content').forEach((content) => { const readMoreBtn = content.nextElementSibling; if (!readMoreBtn) { return; } if (content && content.clientHeight === content.scrollHeight) { readMoreBtn.style.display = 'none'; } else { delete readMoreBtn.style.removeProperty('display'); } }) } window.removeEventListener('resize', checkWidgets); window.addEventListener('resize', checkWidgets); checkWidgets();</script>

cat_Other

Low Intent

ptype_Explainer

ptype_News

Sydney Lake

<p>Democratic lawmakers on June 23 <a href="https://www.warren.senate.gov/imo/media/doc/Letter%20to%20Biden%20re%20extension%20of%20payment%20pause%20final%206.23.21%20final.pdf">sent a letter</a> to President Joe Biden urging him to extend the freeze on student loan repayments through March 31, 2022—six months later than originally planned. During the pandemic, 44.7 million federal student loan borrowers have had a reprieve on making payments, an emergency plan that is set to end on Sept. 30, 2021.</p><div class="paywall-selector"></div><div class="paywall">



<p>Congressional leadership, including Majority Leader Chuck Schumer, a Democrat from New York, and Sen. Elizabeth Warren, a Democrat from Massachusetts, have long been vocal about <a href="https://fortune.com/education/business/articles/2021/05/25/student-loan-cancellation-noticeably-absent-from-bidens-budget-proposal/">student debt cancellation.</a> They wrote to Biden asking him to—before the Sept. 30 deadline— extend the pause to March 31, 2022, or “until the economy reaches pre-pandemic employment levels, whichever is longer.” As of 2020, total student loan debt totaled a record $1.57 trillion.</p>



<p>“At this point in time, an extension in suspending student loan payments seems to be about a 50-50 proposition,” says <a href="https://www.shu.edu/profiles/robertkelchen.cfm">Robert Kelchen</a>, an associate professor and chair of the Department of Education Leadership, Management, and Policy at Seton Hall University. “But with every day that passes without a clear statement that payments will resume, I see the odds of another extension going up.”</p>



<p>The freeze first began in March 2020 when the U.S. Department of Education, under CARES Act provisions, issued a temporary suspension of loan payments and a 0% interest rate. The suspension has since been extended four times.</p>



<p>“Even as the economic recovery picks up steam, it is not reaching all Americans equally,” the letter states. The planned payment resumption in the fall could cause a “significant drag on our economic recovery,” it adds.</p>



<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I believe that President Biden should <a href="https://twitter.com/hashtag/CancelStudentDebt?src=hash&amp;ref_src=twsrc%5Etfw">#CancelStudentDebt</a> to provide lasting relief to working families and boost our economy. But until then, extending the pause on student loan payments is a critical way to help tens of millions of borrowers being crushed by debt.</p>— Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1407739052141518861?ref_src=twsrc%5Etfw">June 23, 2021</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>



<p>Mark Kantrowitz, author of <em>How to Appeal for More College Financial Aid</em>, also sees an extension as a possibility.</p>



<p>“The payment pause and interest waiver might be extended if the unemployment rates for college graduates have not yet normalized as of Sept. 30, 2021,” Kantrowitz says. “The most likely scenario is an extension through the end of the year.”</p>



<p>In May 2020, the unemployment rate for bachelor’s degree holders hit 7.2%, and by this May dropped back to 2.9%, nearing a pre-pandemic level. The unemployment rate for bachelor’s degree holders in June 2019 was 2.2%, according to the <a href="https://www.bls.gov/web/empsit/cpseea05.htm">Bureau of Labor Statistics</a>.</p>



<p>The most recent call for an extension comes at the tail of criticism of President Biden for leaving student loan cancellation out of his <a href="https://www.whitehouse.gov/wp-content/uploads/2021/04/FY2022-Discretionary-Request.pdf">latest budget proposal</a>. On the campaign trail, Biden said he supported paying off $10,000 of debt per borrower. While widespread cancellation may not yet be a reality, some student loan experts believe it could still be in the cards.</p>



<p>“It doesn’t mean that all hope is lost, and that student loan forgiveness for those who are anticipating it won’t reappear as an item later in some way, shape, or form,” Bruce McClary, senior vice president of communications for the National Foundation for Credit Counseling (NFCC), previously told <em>Fortune. </em>“Certainly the issue will be revisited.”</p>



<p>Before the pandemic, monthly student loan payments averaged between $200 and $299, <a href="https://www.federalreserve.gov/publications/2019-economic-well-being-of-us-households-in-2018-student-loans-and-other-education-debt.htm">according to the Federal Reserve</a>. Student loan experts have been torn over what borrowers should do with those funds that borrowers are currently saving each month.</p>



<h2 class="wp-block-heading" id="h-how-to-navigate-the-payment-reprieve">How to navigate the payment reprieve</h2>



<p>Some say it’s best to continue payments if you’re able to do so, while others encourage borrowers to redirect those funds to a savings account or to pay off other debt, like credit card bills or mortgages. Others advise borrowers to look into income-driven repayment (IDR) plans, an alternative to a standard plan calculates monthly payments based on your most recent tax filings. </p>



<p>IDR plans could be beneficial to borrowers who saw a drop in their 2020 income due to the pandemic, student loan experts say. But congressional leadership cautions against the IDR plans, calling the enrollment process “complex and lengthy.”</p>



<p>Congressional leadership is also pushing for the extension to give borrowers more time to prepare for a resumption of payments, citing that an increased number of borrowers could become delinquent or default on their loans if they’re unprepared.</p>



<p>“A wave of student loan defaults would cause long-term damage to borrowers’ credit and financial stability and could put a sudden and unnecessary drag on the recovering economy,” congressional leaders wrote in the letter. </p>



<p>Plus, it’s going to be difficult to get the word out about payment resumption to borrowers, Kelchen adds.</p>



<p>“If payments don’t resume for another six months, the pressure will be increased to keep suspending payments indefinitely as a backdoor way to student debt forgiveness,” he says.</p>



<div class="wp-block-group pro-tip-box-widget"><div class="wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained">
<h3 class="wp-block-heading pro-tip-box-heading">Read more</h3>



<li>Many universities offer <a href="https://fortune.com/education/health/most-affordable-online-msn-nurse-practitioner-programs/">affordable online MSN nurse practitioner programs</a>.</li>
<li>Getting a masters degree doesn’t have to break the bank. Here’s our list of the <a href="https://fortune.com/education/information-technology/most-affordable-masters-in-data-science/">most affordable data science masters degree programs</a>.</li>
<li>Our list of <a href="https://fortune.com/education/information-technology/most-affordable-online-masters-in-cybersecurity/">affordable online masters in cybersecurity programs</a> can help you find the school that best fits your budget.</li>
<li>This directory of the <a href="https://fortune.com/education/business/most-affordable-online-mba-programs/">most affordable online MBA programs</a> is a great resource for those looking for more inexpensive options.</li>
<li>If you’re looking for an online Ed.D. program at a competitive price, check out our list of the <a href="https://fortune.com/education/leadership/most-affordable-online-doctorate-in-education-edd-programs/">most affordable online doctorate in education Ed.D. programs</a>.</li>
</div></div>
</div>

Democratic lawmakers are urging President Joe Biden to extend the freeze on student loan repayments through March 31, 2022—6 months later than originally planned.

Democrat leaders urge Biden to extend student loan repayment freeze through March 2022

F-Search

Education

Education Articles

Jasmine Suarez

Business

Democrat leaders have requested that Biden extend the pause on student loan repayment to March 31, 2022, or “until the economy reaches pre-pandemic employment levels, whichever is longer.”

Fortune earns a commission for purchases made from affiliate partners via some links on our site; other links are not affiliate partner links. <a href='/affiliate-disclosure/'>Click here</a> to read the full Fortune advertiser disclosure and how we earn commissions.

We have independently evaluated the products and services below. We may earn affiliate revenue from links in the content.

Fortune Editors

Fortune Education is designed to be your guide to navigating this new, rich and somewhat overwhelming world of education. Our team of experienced editors is committed to scouring the universe of online offerings in order to rank, rate, provide comparisons and recommend the right solutions for you and your career.

Fortune Education

Uncategorized

homepage

articles

Articles Hub

By Region

By State

By Cost

Career Hub

Health and Wellness

Tech

EDUCATION

EDUCATION ARTICLES

DEMOCRAT LEADERS URGE BIDEN TO EXTEND STUDENT LOAN REPAYMENT FREEZE THROUGH MARCH 2022

Democrat leaders urge Biden to extend student loan repayment freeze through March 2022 | Fortune Education

Rich Griset

10 free data analytics courses you can take online

https://fortune.com/education/articles/free-data-analytics-courses/?itm_source=parsely-api

Preston Fore

2024 real estate school review: AceableAgent

https://fortune.com/education/articles/real-estate-school-review-aceableagent/?itm_source=parsely-api

Northwestern, Columbia, and UPenn have the best EMBA programs in the country. Here's why

https://fortune.com/education/articles/best-exec-mba-programs-news/?itm_source=parsely-api

Brit Morse

A law associate making $300,000 a year at Skadden Arps quit over the firm’s deal with Donald Trump

/article/rachel-cohen-making-300k-year-law-associate-skadden-arps-quit-protest-firms-deal-trump/

Get ready to pay more than $2,000 for a new iPhone: Experts say Trump’s 125% tariff on China is a ‘complete disaster for Apple’ akin to ‘Armageddon’

/2025/04/10/apple-iphone-16-price-complete-disaster-china-trump-tariffs/

It’s about to get a lot harder for job seekers as tariffs are set to make the hiring landscape even more daunting

/2025/04/07/trump-tariffs-labor-market-more-challenging-job-seekers-economists-say/

This company does peer performance reviews—And then lets everyone read each other’s evaluations

/2025/03/24/performance-review-process-company-allows-all-workers-read-garner-health-workplace-culture/

2024 health coach certification review: Catalyst Coaching Institute

/education/articles/health-coach-certification-review-catalyst-coaching-institute/

A guide to a nurse’s salary: Broken down by all 50 states and industry type

/education/careers/nurse-salary/

2024 health coach certification review: Institute for Integrative Nutrition

/education/articles/health-coach-certification-review-institute-for-integrative-nutrition/

10 high-paying public health jobs right now

/education/careers/public-health-jobs/

Jason Del Rey

Is eBay actually sexy again as the ecommerce old-timer’s stock surges to an all-time high?

/2025/07/31/ebay-earnings-live-sports-cards-trading-pokemon/

Erik German

Meet the CIA-backed venture fund behind Palantir, Anduril—and a spy tool that might be on your phone

/2025/07/29/in-q-tel-cia-venture-capital-palantir-anduril/

Dana Hull

Kiel Porter

Bloomberg

Tesla engineering VP Moravy says company in ‘big swing moment’

/2025/07/27/tesla-engineering-vp-lars-moravy-big-swing-moment-musk-robotaxi-optimus-semi/

Christiaan Hetzner

Volkswagen seeks audience with Trump, dangling more than $10 billion in U.S. investments in exchange for tariff exemptions

/2025/07/25/volkswagen-trump-tariffs-exemptions/

Whether you’ve just completed your undergraduate degree or you are a professional with years of experience, Fortune is here to guide you on the next step of your educational journey.

Democrat leaders urge Biden to extend student loan repayment freeze through March 2022

About the Contributors

Top Articles

10 free data analytics courses you can take online

2024 real estate school review: AceableAgent

Northwestern, Columbia, and UPenn have the best EMBA programs in the country. Here's why

UNC Kenan-Flagler’s top-ranked online MBA